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NewYork-Presbyterian Hospital Partnership With ConEdison Solutions and NYSERDA Delivers Substantial Energy Savings

Conservation Investments in Joint Projects Reduce Energy Costs by More Than $745,000 Annually

NEW YORK (Jul 27, 2005)

NewYork-Presbyterian Hospital, the nation's largest, not-for-profit, non-sectarian hospital, has teamed with ConEdison Solutions, a leading energy services company, and the New York State Energy Research and Development Authority (NYSERDA) to implement a wide-ranging energy conservation strategy that will deliver more than $745,000 in annual energy savings at the ten-million-square-foot institution.

The award-winning initiative – one of the largest energy conservation programs ever implemented by a major American hospital – has consisted of energy upgrades at two of the medical center's Manhattan campuses and its Westchester County campus in White Plains, New York.

The cost of the overall energy investment – implemented with strategic and technical support from ConEdison Solutions and financial support from NYSERDA – amounted to almost $2,400,000. NYSERDA is providing over $550,000 in grants toward these energy initiatives.

"Saving energy is a bottom line issue that is extremely important in controlling health care costs today. Under Governor Pataki's leadership, we have been working to help the health care industry control energy costs," said Peter R. Smith, President of NYSERDA. "By aggressively pursuing a wide range of intelligent energy upgrades, NewYork-Presbyterian Hospital today stands as a role model for health care facilities around the State."

At a ceremony held today at the hospital's NewYork-Presbyterian/Weill Cornell Medical Center, NYSERDA President Peter R. Smith joined ConEdison Solutions President and CEO JoAnn F. Ryan, as she presented the company's Energy Excellence Award to Paul Schwabacher, Vice President of Facilities Operations and Biomedical Engineering at NewYork-Presbyterian Hospital, and Jennifer Kearney, energy programs manager at New York-Presbyterian Hospital/Columbia.

"NewYork-Presbyterian Hospital knows that superior energy efficiency translates directly into superior patient care and superior patient services," said Mr. Schwabacher. "Thanks to our partnership with ConEdison Solutions and NYSERDA, we are proud to be setting a national standard for energy efficiency in the health care sector."

Hospital officials project that savings generated by the energy improvement upgrades will deliver a full payback on the initial investment within 2.5 years. Overall, the upgrades are expected to generate energy savings of approximately 5.8 million kilowatt-hours per year.

From the inception of its New York Energy $martSM program, NYSERDA has provided the hospital with more than $1.8 million in total incentives, resulting in potential total savings of more than 137 million kilowatt-hours and cost savings of approximately $9 million.

In recognition of the energy conservation initiative, the U.S. Environmental Protection Agency and the U.S. Department of Energy named NewYork-Presbyterian Hospital its ENERGY STAR® Partner of the Year for its outstanding contribution to reducing greenhouse gas emissions through leadership in energy management in March 2005. At the same time, NYSERDA earned the ENERGY STAR Award for "Corporate Commitment" to energy efficiency achievement.

NewYork-Presbyterian Hospital began working with ConEdison Solutions in 1999 to build upon its existing energy management efforts with a view toward maximizing the level of resources the institution could devote to patient care and research.

ConEdison Solutions – in conjunction with NYSERDA – consulted with the hospital on the overall initiative, including energy studies, technology evaluations and upgrades, including HVAC modifications and lighting modernization.

"Everyone associated with ConEdison Solutions is gratified when one of our clients is singled out as a national leader in applying energy efficiency initiatives throughout its organization," said Ms. Ryan, President and CEO of ConEdison Solutions based in White Plains, New York. "We are especially proud that NewYork-Presbyterian Hospital has chosen to continue working with our company to help achieve even greater energy savings in the years ahead."

"This achievement represents only the first step in the comprehensive energy conservation initiative undertaken by NYPH," said Robert S. Volland, Senior Vice President of Facilities and Real Estate at NewYork-Presbyterian Hospital. "Our energy program is a long-term, institution-wide endeavor that is expected to grow well into the future."

"NewYork-Presbyterian Hospital takes a systemic approach to energy management by identifying every energy-saving opportunity hospital-wide, including the in-house construction unit, purchasing, new construction, and real estate, as well as engineering and plant operations," said Ms. Kearney. "Both ConEdison Solutions and NYSERDA have been indispensable sources of support, creativity and technological expertise."

About NewYork-Presbyterian Hospital
NewYork-Presbyterian Hospital – based in New York City – is the largest not-for-profit, non-sectarian hospital in the country, with 2,397 beds. It provides state-of-the-art inpatient, ambulatory, and preventive care in all areas of medicine at five major centers: NewYork-Presbyterian Hospital/Weill Cornell Medical Center, NewYork-Presbyterian Hospital/Columbia University Medical Center, Children's Hospital of NewYork-Presbyterian, The Allen Pavilion, and The Westchester Division.

One of the largest and most comprehensive health-care institutions in the world, the Hospital is committed to excellence in patient care, research, education, and community service. It consistently ranks as one of the top hospitals in the country in U.S.News & World Report's guide to "America's Best Hospitals," in New York magazine's Best Doctors issue, in Solucient's top 15 major teaching hospitals, and in many other leading surveys. The Hospital has academic affiliations with two of the country's leading medical colleges: Joan and Sanford I. Weill Medical College of Cornell University and Columbia University College of Physicians & Surgeons.

About NYSERDA
NYSERDA is a public benefit corporation established by law in 1975. It identifies and promotes solutions to New York State's energy challenges in ways that achieve energy efficiency while benefiting the state's economy and environment. It administers the New York Energy $martSM program that benefits ratepayers of the investor-owned electric companies across the State. www.nyserda.org

About ConEdison Solutions
ConEdison Solutions is a leading energy services company that provides cost-effective energy solutions for commercial, industrial, residential, and government customers. Based in White Plains, New York, with offices in Burlington, Massachusetts, Cherry Hill, New Jersey, and Arlington, Virginia. The company's dedicated team of energy professionals delivers a broad range of commodity, consulting, demand-side management and performance contracting services. ConEdison Solutions creates customized programs and services tailored to help customers achieve their individual energy objectives. www.conedison.com

ConEdison Solutions is a subsidiary and registered trademark of Consolidated Edison, Inc. (NYSE:ED). More information can be obtained by calling 1-888-210-8899 or by visiting the ConEdison Solutions web site.

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